At a time when the semiconductor industry is making historic investments in U.S. chip production and supply chain resiliency, it is imperative we extend the AMIC to continue this momentum, spur future innovation, and provide companies with the certainty and predictability needed to make long-term capital investments in the United States. It is also critical to secure U.S. leadership in chip design by expanding the credit to cover these activities, which will help level the playing field between the U.S. and global competitors, secure America’s first-mover advantage, and ensure global standards are built on the U.S. tech stack across all industries.